关键词: 金融中介发展, 经济增长, 协整分析, 因果关系

Abstract: Using the cointegration analysis technology and causality analysis technology,we discuss the relationship between financial intermediaries development and economic growth in China,Evidences from the multivariate VAR system show that:(i)as far as the relationship between financial intermediaries scale and economic growth is concerned,what Robinson (1952) declared is right, “where enterprise lead finance follows”; (ii) on the relationship between financial intermediaries efficiency and economic growth,the view of many endogenous economic growth models can be supported by China case.